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Below is a list of SEAF’s funds and the countries in which they operate:
In 1989, the year SEAF was founded, new democracies and free market economies were beginning to rise from the ashes of communism and the weight of old oligarchies. Elsewhere in the world, governments in these emerging markets also realized the importance of achieving growth through encouraging the growth of local small and medium enterprises. They looked to the growing private sector to achieve economic growth, reduce poverty, increase prosperity and help achieve political and economic stability. Investors also saw the opportunities represented by these growing enterprises, and were interested in participating.
To address these issues, SEAF was established, initially as a private investment subsidiary of the international development organization CARE. Then called the CARE Small Business Assistance Corporation or CARESBAC, the organization had a focus of providing growth capital coupled with technical assistance to Small and medium enterprises (SMEs). Backed initially by a $300,000 grant from the U.S. Agency for International Development, CARESBAC raised investment sources through a variety of commodity sales, initial grants, and loan commitments that created the resources behind its initial private investment funds located throughout Central and Eastern Europe.
In 1995 the activity of CARESBAC was spun off from CARE, becoming the Small Enterprise Assistance Funds (SEAF). SEAF was formally registered as an independent tax-exempt organization in the State of New York sponsoring and managing for-profit investment funds that target businesses operating in underserved communities.
SEAF is now managing or developing 19 funds, with aggregate capital under management over USD 500 million. From 1992-2009, SEAF made a total of nearly 290 investments, 178 of which it is still currently holding.[5]
Small and medium enterprises (SMEs) are often overlooked and therefore referred to as the “missing middle” in the developing world. Recent data results, analysis and case highlights (reports can be found below in the “Publications” section) demonstrate how SMEs can generate employment opportunities in their local communities, serve as links to regional and international markets for smaller local suppliers, and address market deficiencies and customer needs that would otherwise go unaddressed.[6][7]
In 2005, the SEAF family grew larger with the creation of Center for Entrepreneurship and Executive Development (CEED), a legacy institution of United States Agency for International Development (USAID) and SEAF, born out of USAID grant funding in SME equity investments made by SEAF throughout the Balkans, and EBRD in Slovenia. CEED centers provide business development training and technical assistance to entrepreneurs in emerging market.[8][9]
SEAF is led by a Corporate Board of Directors, an International Advisory Council, and a Management Team based in Washington, DC. The board and the council include business leaders, editors of periodicals, academics, and other international experts. Below is a list of senior management at SEAF:[10]
“From Poverty to Prosperity: Understanding the Impact of Investing in Small and Medium Enterprises” A Data Survey and Case Study Analysis for SEAF Investments
“Defining SMEs: A Less Imperfect Way of Defining Small and Medium Enterprises in Developing Countries” A Brookings Global Economy and Development Report, co-authored by Chairman Hubertus van der Vaart
“The Development Impact of Small and Medium Enterprises: Lessons Learned from SEAF Investments” Volume 1: Main Report
“The Development Impact of Small and Medium Enterprises: Lessons Learned from SEAF Investments” Volume 2: Case Studies
“Social Investors on the Sidelines” Microenterprise Americas Report on SME Investors
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